Central banks are late with measures to rein in inflation, Lawrence Summers says The global economy is currently facing the biggest challenges it has seen in four decades, according to former US Treasury Secretary, Larry Summers. “This is the most complex, disparate and cross cutting set of challenges that I can remember in the 40 years I’ve been paying attention to such things,” Summers said at the Institute of International Finance’s annual meeting in Washington. He criticized the International Monetary Fund and the World Bank, along with other central banks, for underestimating the risks posed by persistently h
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